I.M. Skaugen - Annual Report 2006

BALANCE SHEETS

USD '000	Notes	31.12.2006	31.12.2005	31.12.2004

ASSETS
Fixed asstes
Intangible fixed assets
Deferred tax assets	8	5 990	5 990	5 990
Other intangible assets and goodwill	24	5 085	2 062	-
Total intangible fixed assets		11 075	8 052	5 990

Tangible fixed assets
Vessels and assets under construction	12	148 466	145 596	149 870
Other fixed assets	12	8 092	4 849	2 325
Total tangible fixed assets		156 558	150 445	152 195

Financial fixed assets
Investments in associates	14	1 355	656	560
Non-current financial assets	16	14 349	11 208	1 326
Total financial fixed assets		15 749	11 864	1 886
Total non-current assets		183 382	170 361	160 071

Current Assets
Projects under construction	25	19 853	-	-
Trade debtors		19 866	13 800	11 831
Other debtors	26	22 361	21 119	11 360
Financial current assets	16	1 000	1 000	3 893
Cash and cash equivalent	15	81 283	83 019	19 795
Total current assets		144 363	118 938	46 879
Non-current assets classified as held for sale	12	6 313	-	-
TOTAL ASSETS		334 058	289 299	206 950

EQUITY AND LIABILITES
Equity
Share capital		63 092	59 376	55 725
Other paid-in capital		18 676	8 417	0
Treasury shares		(202)	(202)	0
Retained earnings		17 988	9 606	24 888
Net unrealised gain reserve		5 677	5 677	0
Minority interests		5 784	4 044	2 977
Total equity	21	111 015	86 918	83 590

Liabilities
Long term liabilities
Convertible bonds	18	-	18 818	10 081
Bonds	17	147 585	87 677	36 015
Liabilities to financial institutions	17	44 468	67 958	57 009
Other long-term liabilities		1 737	2 045	645
Total long-term liabilities		193 790	176 498	103 750


Current interest-bearing liabilities	17	1 443	12 504	2 776
Trade creditors		11 602	3 682	557
Other short-term liabilities		16 208	9 697	16 277
Total current liabilites		29 253	25 883	19 610
Total liabilities		223 043	202 381	123 360
TOTAL EQUITY AND LIABILITIES		334 058	289 299	206 950

Oslo, 7 February 2007, Board of Directors, I.M. Skaugen ASA